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Financing Your Business
We tried searching for a pot of gold under the rainbow for beginning dairy artisans, but couldn’t find it. Even without the pot of gold, know there are funding sources out there, and we started a list of the best Wisconsin resources. Current grant opportunities are available to beginning farmers, and the Small Business Development Centers on most UW campuses can give you advice on how to write a proposal. Remember that you are likely to need a solid business plan (hyperlink to Writing a Business Plan) and to have spoken with some financial institutions. The sites below offer information about financial planning, financing and, in some cases, financial assistance for business planning only.
Agricultural Development and Diversification Grant Program
The Department of Agriculture, Trade and Consumer Protection's ADD Program provides $400,000 per year for grant projects that can further develop the Wisconsin agriculture industry. Demonstration projects, feasibility studies, market research, market development, and new product development projects are typical recipients of the grants. Request for proposals are available from the ADD office in early December each year. Proposals are due mid-March each year. Contact Mike Bandli at 608-224-5136 for further information.
Building Better Rural Places
ATTRA developed this resource guide for producers seeking help from federal programs to develop innovative enterprises in agriculture and forestry in the United States. Specifically, this guide addresses program resources in community development; sustainable land management; and value-added and diversified agriculture and forestry. For further information and to see if paper copies are still available, contact ATTRA at 800-346-9140.
Cooperative State Research, Education and Extension Service Funding Opportunities
CSREES offers a variety of funding opportunities for agricultural producers. One of its program funding areas is for the Community Food Projects Competitive Grants program. These grants are intended to help eligible entities that need a one-time infusion of Federal assistance to establish and carry out multi-purpose community food projects. They also have producer grants, so be sure to check out their complete listing. Contact 202-720-7441 for further information.
Department of Commerce: Community-Based Economic Development Program
The Community-Based Economic Development Program provides financing assistance to local government and community-based organizations that undertake planning or development projects, or that provide technical assistance services that are in support of business and community development. Contact Doug Thurlow at dthurlow@commerce.state.wi.us for further information.
FCS Financial Services
FCS Financial Services provides a variety of business planning and farm management consulting services to farmers. In addition, it offers the following loan opportunities: Ag Loans-Real Estate, Ag Loans-Line of Credit, Home Loans, and Construction Loans. Loan professionals assess each situation and structure a loan that meets each farmer’s needs. Contact 800-324-5751 for further information.
Farm Service Agency
Farm Service Agency offers a variety of loan opportunities, especially to beginning and low-income farmers. FSA loans can be used to purchase land, livestock, equipment, feed, seed, and supplies; loans can also be used to construct buildings or make farm improvements. Contact your local FSA office or the state headquarters at 608-662-4422 for further information.
Grow Wisconsin Dairy Team
As part of a $2.4 million Value Added Dairy Initiative, the Grow Wisconsin Dairy Team is offering several grant opportunities in 2005. Whether you are dairy producer, dairy processor or local organization dedicated to growing dairy in your area, these grants can provide resources to help you grow. Applications may be submitted to the Wisconsin Department of Agriculture, Trade and Consumer Protection at any time. Contact Jim Cisler at 608-224-5137 or james.cisler@datcp.state.wi.us for further information.
Local Banks
This website provides a link to local banks statewide. Contact 608-833-4229 for further information.
Minority Business Development Fund – Department of Commerce
The Dept. of Commerce's (MBDF) Development Projects Program is designed to help improve capital access for minority-owned firms. Funds from this program may be used for working capital, machinery and equipment, land and building acquisition, existing business acquisition and related expenses. Development Project loans are intended to help businesses expand, thereby creating new jobs and benefiting economically distressed communities in Wisconsin . Contact 414-220-5367 for further information.
Rural Economic Development Program – Department of Commerce
The goal of the Dept. of Commerce's RED Early Planning Grant program is to stimulate the start up and expansion of small businesses in communities throughout Wisconsin . To accomplish this goal, the program provides financial assistance to rural entrepreneurs and small businesses so that they may obtain the professional services necessary to determine the feasibility of a proposed start-up or expansion. Since its inception in 1990, the RED program has provided more than $1.4 million to over 110 Wisconsin Businesses. Contact John Stricker at 608-261-7710 for more information.
USDA’s Rural Enterprise Grants
These are grants for financing and developing small and emerging private businesses with less than $1 million in revenues, and which will have fewer than 50 new employees. There is no maximum dollar limit for any one project. Funds can be used for technical assistance, revolving loan program, incubatory/industrial buildings, and industrial park improvements.
USDA’s Sustainable Agriculture Research and Education Competitive Grants Program
The North Central Sustainable Agriculture Research and Education grants program offers three categories of competitive grants to dairy producers. Contact Diane Mayerfield at 608-263-4004 for further information. The grant programs are:
- Research and Education Grant Program, which supports innovators with grants ranging from $10,000 to $100,000.
- Farmer Rancher Grant Program, which supports exclusively farmers or ranchers with grants ranging from $2,000 to $15,000.
- Professional Development Program, which support Extension educators, farmers and other stakeholders in developing education activities in sustainable ag systems.
USDA’s Value-Added Producer Grants
VADG has two grant programs available. One is for independent producers and another is for information resource centers. The primary objective of the grant program for independent producers is to encourage producers of agricultural commodities and products of agricultural commodities to further refine these products increasing their value to end users. Contact Barbara Brewster at 715-345-7610 for further information.
Wisconsin Milk Marketing Board
The Wisconsin Milk Marketing Board’s Producer site offers financial assistance and links to funding opportunities. Contact 608-836-8820 for further information.
Wisconsin Small Business Development Center
The Wisconsin Small Business Development Center has branches on all UW campuses. They provide classes and individual consulting, some of these programs are free while others require a fee.
